CANCER CENTER OF KANSAS, P.A. 401(K) PLAN Contribution & Employer Match
CANCER CENTER OF KANSAS, P.A. 401(K) PLAN Contribution & Employer Match
CANCER CENTER OF KANSAS, P.A. provides the following retirement savings benefits to its employees:
CANCER CENTER OF KANSAS, P.A. 401(K) PLAN Average Participant Retirement Account Value
CANCER CENTER OF KANSAS, P.A. 401(K) PLAN Estimated Average Employee Contribution Amount
186,071.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,907.00 in CANCER CENTER OF KANSAS, P.A. 401(K) PLAN, assuming a 10%* annual return.
2023 & 2024 401(k) contribution limits by IRS
Pretax and roth employee contributions | Employee and employer contributions combined | Catch-up contributions (in addition to the employee and employer combined limit, age 50 and over) | |
---|---|---|---|
401(k) contribution limit for 2023 | $22,500 | $66,000 | $7,500 |
401(k) contribution limit for 2024 | $23,000 | $69,000 | $7,500 |
$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.
$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!
Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.
Employer match in CANCER CENTER OF KANSAS, P.A. 401(K) PLAN
An employer match is deemed as ‘free’ money wherein your employer contributes additional funds to your allocated retirement savings plan. The matching amount can frequently be several percentage points of your compensation. Don’t avoid this free salary ‘raise’.
CANCER CENTER OF KANSAS, P.A. 401(K) PLAN Total Employer Contribution and Match Rate
CANCER CENTER OF KANSAS, P.A. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $1,059.00 for 20 years would give you extra $67,793.00, assuming a 10% annual return.
CANCER CENTER OF KANSAS, P.A. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 50 percent of eligible compensation with a minimum deferral of 1 percent.
2. Employer Match/Contribution Conditions: The employer makes discretionary matching contributions of 50 percent of employees’ salary deferral amounts on the first 6 percent of employees’ compensation.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their voluntary contributions plus earnings. Vesting in the company’s contribution is based on years of continuous service, with full vesting after six years of credited service.
4. Roth 401(k) Contribution: The plan allows for voluntary after-tax employee contributions limited to the lesser of 10 percent of the employee’s compensation or $6,000.
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